Deckers (DECK) Shares Dip as Sterne Agee Cuts to Underperform
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Price: $53.71 -2.08%
Rating Summary:
8 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
8 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade DECK Now!
Shares of Deckers Outdoor (Nasdaq: DECK) are getting cracked Monday morning following an earlier downgrade from Sterne Agee's Sam Poser. The stock is down more than 6 percent at last check.
Poser now rates Deckers shares an Underperform, down from Neutral previously. The analyst's price target was reduced by about 37 percent from $60 to $38.
Poser said he "would not be involved in DECK going into the quarter..." as he expects the company to reduce its full-year guidance on its second-quarter conference call next week on Thursday, July 26th. The analyst said "there is high probability that Asian and European sales will not improve this year [and] U.S. sales are likely to be negatively impacted by higher prices and little innovation in the UGG Classic category."
Sterne Agee's FY12 EPS estimate was reduced from $4.77 to $4.23 and the FY13 estimate was lowered from $5.27 to $4.50. The Street is currently expecting FY12 and FY13 EPS of $4.50 and $5.42, respectively.
With Deckers shares last trading around $43.70, Poser's new price target represents potential downside of about 13 percent.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Deckers.
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Poser now rates Deckers shares an Underperform, down from Neutral previously. The analyst's price target was reduced by about 37 percent from $60 to $38.
Poser said he "would not be involved in DECK going into the quarter..." as he expects the company to reduce its full-year guidance on its second-quarter conference call next week on Thursday, July 26th. The analyst said "there is high probability that Asian and European sales will not improve this year [and] U.S. sales are likely to be negatively impacted by higher prices and little innovation in the UGG Classic category."
Sterne Agee's FY12 EPS estimate was reduced from $4.77 to $4.23 and the FY13 estimate was lowered from $5.27 to $4.50. The Street is currently expecting FY12 and FY13 EPS of $4.50 and $5.42, respectively.
With Deckers shares last trading around $43.70, Poser's new price target represents potential downside of about 13 percent.
Visit our Analyst Ratings page to track all the market-moving analyst action on shares of Deckers.
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